116 Washington Avenue | Office - FOR SALE
$975,000
116 Washington Avenue, North Richmond, CA 94801
7
Cap Rate
44,577
NOI
Details:
Highlights:
- Prime Location: Central Point Richmond Spot for Convenient Access
- Well Maintained, Attractive and Modern Five Unit Property
- Proven Track Record of Strong Tenant Demand
- Low Costs, Minimal Operational Expenses
- Versatile Suites: Accommodating Spaces for Businesses of All Sizes
- Community Hub: Surrounded by Thriving Retail and Dining Options
- Accessible Location: Conveniently Situated Near Major Transportation Routes.
Description:
Pacific West Advisory Group is happy to present 116 Washington Street, a prime investment opportunity in the heart of Point Richmond. This well-maintained 4,535 SF office property, constructed in 1991, is comprised of five individual office suites and is currently 80% occupied with a strong history of tenant demand.
The building exudes durability and longevity, standing as a testament to quality craftsmanship and enduring value. Historically high occupancy rates and low operational costs make this asset a solid choice for investors seeking stable, income-generating property with long-term growth potential.
Offered at $975,000 ($215/SF), the property provides a 7.0% current cap rate and 8.1% pro forma cap rate, delivering reliable in-place income with additional upside through lease-up and market rent growth. Flexible suite configurations accommodate a variety of professional users, allowing tenants to find workspace tailored to their unique needs.
Documents:
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| Offering Memorandum |
Location
Gallery
